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Pace Sixteen
THI IOD
I
I
Friday, Jane 1, 1956
ISRAEL BOND BOARD OF GOVERNORS
SETS $30,000,000 GOAL BY JUNE 30
The Hoard of Governor* of the Israel Bond Organization, meeting in an
emergency cession in New York this week, adopted a goal of a minimum of
$30,000,000 in Israel Bond sales by June 30, to strengthen Israel’s economic
position at a time when she is placed under the severest strain by the require
ments of her defense program. Among the Israel Bond leaders and Israeli
personalities who attended the mreting were (left to right) Dr, Joseph J.
Schwarts, Vice President; Morris W. Berinstein, National Campaign Chaitv
man; Israel Ambassador Abba Kltan; Edward M. M. Warburg, member of the
Executive Committee and President of the United Jewish Appeal; Abraham
Peinberg, President; Dr. Giora Josephthal, Treasurer of the Jewish Agency;
Jack I). Weiler, Secretary-Treasurer, and Shimon Peres, Director-Ceneral of
Israel’s Ministry of Defense. Joseph Shulman, Chairman of the Executive
Committee, and Dewey D. Stone, Chairman of the Community Leadership
Division, also attended the special session.
ISRAEL BOND CAPITAL SPEEDS
WAY TD ECONOMIC INDEPENDENCE
Despite daily incidents, this worker on an irrigation project represents
the determined efforts of the people of Israel to achieve economic
Independence. With the economic growth made possible through in
vestments in State of Israel Bonds during the past five years, Israel
has forged well ahead toward this goal. Today, annual agricultural
production exceeds $180,060,000, electric power output is close to
1,000,000.000 kilowatt hours, annual industrial production is over
$760,000,000 and the total irrigated area now extends over 225,000
acres, 200% more than in 1948. Additional Israel Bond allocations
of millions of dollars have helped to extend transportation and com
munication lines, and to speed the absorption of 800,000 new immi
grants.
Suie of Israel Development Bonds are playing a vital role in the growth of
land's cotton industry. With the financial assistance of Israel Bond proceeds,
the Negev village of Kiryat Gan ia being built up as a central region for produc
ing and processing cotton. Shown above in the cotton fields of Kiryat Gan is
a young Israeli fanner loading cotton bales for shipment to textile factories
in the northern part of the country. In 19S5, the yield of cotton covered 40
par cent of local requirements. By the end of 19S7, the region is expected to
pua enough cotton to supply the needs of Israd’s entire textile industry, thus
sashig at least $6,000,009 in foreign currency.
'ISRAEL BONDS
BUILD ISRAEL S
ECONOMIC DEFENSE
Ben-Gurion
Calls For
Bond Drive
Success
The effect of the Israel Bond
drive, now five years old, on the
economy of Israel, has been cited
on many occasions by many
authorities, but no group is as
strong in their praise of this his
toric effort than Israel’s govern
ment heads.
Speaking of Israel Bonds, David
Ben-Gurion, dynamic Prime Min
ister of the young republic, de
scribed them as a token of the
kinship of the embattled people
of Israel and our own communi
ties, adding;
“I am certain that American
Jewry, which has had so large a
part in our great enterprise will
not fail us in the future and will
stand by us, heart and soul, until
our historic task Is done. The Is
rael Bonds you buy make you
partners in our life work; increas
ed success of the Israel Bond
drive increases the success of our
undertaking.”
Itzhak Ben-Zvi, revered Pres
ident of the State of Israel, ex
pressed the appreciation of the
people of Israel, and in a state
ment echoed by many of his
compatriots, said;
“Much has been achieved,
thanks in no small measure to
Israel Bonds. Agriculture has
been expanding rapidly, industry
is developing, natural resources
are coming to light, and exports
are on the upgrade.”
Perhaps no one in the State of
Israel can better measure the ef
fect of money derived from the
sale of Israel Bonds on Israel’s
position in a hostile world than
her Foreign Minister, Moshe
Sharett. An astute observer of
the constantly shifting balance of
power, Sharett made this remark:
“Israel’s relentless drive for
economic independence must be
intensified in view 'of changes
in the balance of power within
the Middle East. The decisive part
played by the Israel Development
Bond Issue in this effort has thus
acquired new urgency and im
portance. Every subscription to
Israel Development Bonds is
translated into a tangible addition
to Israel’s actual and potential
strength. By helping to render
Israel impregnable and by de
monstrating faith in her future it
discourages evil designs and pro
motes the prospects of construc
tive peace.”
Most intimately concerned with
the Israel Bond drive of the
government leaders, naturally, is
Levi Eshkol, Israel’s Finance
Minister. Mr. Eshkol, recapitulates
the effect of Israel Bond dollars
succinctly:
“There are Israel Bond dollars
in every inch of pipeline in the
Negev. There are Israel Bond dol
lars in every drop of water, in
every green new field, in every
new cotton plantation, in every
new railway engine, in every
new hotel and in every develop
ment project. It is Israel Bond
dollars that speed us forward on
the road to economic independ
ence.”
Q
UESTIONS
AND
A
NSWERS CONCERNING
STATE of ISRAEL
DEVELOPMENT BONDS
Q. What are State of Israel Development Bonds?
State of Israel Development Bonds, a key source of investment
capital for the growth and development of Israel, are securities
of the State of Israel sold for United States dollars, with in
terest and principal payable in United Statps dollars.
Q. Why are Israel Bonds needed?
A. The State of Israel needs Israel Bond funds for the develop
ment of new industries, the expansion of agricultural produc
tion, the building of homes for new immigrants in rural and
urban areas, the construction of harbors and railways, and
the exploitation of natural resources.
Q. Why are Israel Bonds important to Americans?
A Israel Bonds represent an important channel through which
Americans can participate in the development of a nation
which has proved itself a courageous exponent of democracy,
and a firm ally of the United States in a crucial part of the
world.
Q. How many types of Israel Bonds are there?
A. There are two types of Israel Bonds: Coupon Bonds, bearing
4% interest, which mature on July 1, 1969; and Savings Bonds
which mature ten years from the date of issue at a value of
150% of the issue amount. Coupon Bonds start at $500, while
Savings Bonds may be purchased from $100 and up.
Q. Can Israel Bonds be redeemed in Israel?
A. Yes. Israel Development Bonds can be redeemed in Israel cur
rency in Israel at any time, at the rate of exchange applicable
to dollars, to cover tourist expenses, for investment, or dona
tions to approved institutions.
Q. Can Israel Bonds be redeemed in case of death?
A. Yes. The State of Israel will purchase an Israel Bond in
American dollars at any time within two years after the death
of the registered owner, if application for such payment is
made by the estate.
Q. May Israel Bonds be used to obtain a loan?
A. Yes. Registered owners of Development Bonds may borrow up
to 75% of the face value of their Bonds in accordance with
the terms of the prospectus. Such loans will be repaid over a
two year period at the going interest rate, not to exceed 5%.
Q. Why is it important to buy Israel Bonds NOW?
A. Today, Israel is faced with increased hostility, boycott and
blockade by her neighbor states. Today, more than ever, Israel
needs economic strength to maintain her security and expand
her role as an exponent of freedom in a backward part of the
world. Economic aid to Israel today constitutes a decisive
source of strength for the forces of democracy.
COMMITTEE
—Continued from page 15
Longwater, Mrs. George Macher,
Stanford Makover, Harold Mar
cus, Mrs. Maxine Marcus, Barney
Medintz, Hyman Meltz, Simon
Mendel, M. J. Merlin. L. Mislow,
Samuel A. Miller, Sam Miller,
Otto Orkin, Mrs. Sidney Pazol,
Mrs. Julius Perlinski, Mrs. I. M.
Pintchuck, Mrs. Cyrus Polan.
Ben Rabinowitz, Charles Rinz-
ler, Sam Rothberg, Berry Rit-
tenbaum, Max Rittenbaum, Mi
Si Rosenbloom, Mrs. Milton Sav
Abraham Schwartz, Mrs. Alfri
Schwartz, William Schwartz, J
Simon S. Selig, Jr., Mrs. J. Sin
er„ David L. Slann, Mrs. L<
Smith, Mrs. S. J. Steinbach, M:
Dorothy Stone, Rose Sugarma
Sam Sugarman, Mrs. StanL
Tinter. Mrs. Milton Travis, Mi
Bert Travis, Robert Travis, Mi
Charles Weiner, Dr. Alfred
Weinstein, Morton (Bud) Wei
Erwin Zaban, Joe Zaglin, M:
Joe I. Zimmerman.